Sri Lankan textile exports up 3% in April 2017

12 Jul '17

2 min read

Sri Lankan export earnings from textiles and garments were positive for the second consecutive month in April 2017. During the month, the island nation exported textiles and garments worth $351 million, registering a moderate increase of 3 per cent year-on-year. However, on a month-on-month basis, export earnings were lower reflecting seasonal patterns.

On a cumulative basis, however, export earnings during the first four months of 2017 continue to be negative.

During January-April 2017, textiles and garment exports from Sri Lanka declined by 4.9 per cent to $1.626 billion compared to exports of $1.709 billion in the corresponding period of the last year, according to the data released by the Central Bank of Sri Lanka. Clothing exports alone accounted for $1.531 billion in January-April 2017, showing a decrease of 5.1 per cent year-on-year.

Textiles and apparel accounted for about 60.19 per cent of all industrial exports made by the South Asian nation during the four-month period, the data showed.

Sri Lanka’s expenditure on imports of textiles and textile articles also decreased 4 per cent year-on-year to $860.6 million in January-April 2017, as against imports valued at $896.8 million in the corresponding period of the previous year, according to the central bank’s report on ‘External Sector Performance – April 2017’.

The island nation earned $4.884 billion in textiles and apparel exports in 2016, registering a growth of mere 1.3 per cent year-on-year. Of this, clothing exports alone accounted for $4.602 billion, up 1 per cent over previous year’s earnings of $4.555 billion. (RKS)

Fibre2Fashion News Desk – India